The markets around the world jumped on Wednesday, after the Federal Reserve said it will work with other central banks to support the global economy. The coordinated market intervention gave investors hope to avoid a market paralysis stemming from Europe's debt crisis. Besides, better-than-expected reports on private-sector jobs, housing and Midwest manufacturing showed that the fundamentals just keep marching forward despite the market turmoil. The real economy seems indifferent to the EU debt headlines. Surveys released Thursday confirmed manufacturing activity in China slipped into contraction in November. The euro edged upward.
Thursday, December 1, 2011
Soaring on monetary policy easing
The markets around the world jumped on Wednesday, after the Federal Reserve said it will work with other central banks to support the global economy. The coordinated market intervention gave investors hope to avoid a market paralysis stemming from Europe's debt crisis. Besides, better-than-expected reports on private-sector jobs, housing and Midwest manufacturing showed that the fundamentals just keep marching forward despite the market turmoil. The real economy seems indifferent to the EU debt headlines. Surveys released Thursday confirmed manufacturing activity in China slipped into contraction in November. The euro edged upward.
